Virgen Del Carmen Group

The members of our group, Virgen del Carmen (which is the name of a saint of Peru), are clients of Asociación Arariwa. This communal bank consists of 12 members in Cusco. All the group members live in Cusco. Some of the members are single, while some are married, or live with their common law spouse and have children. The members of Virgen del Carmen are involved in various commercial activities including selling clothing. One of the members is a seamstress and waiter.

One of the members, Edith, was born in Cusco, and lives in Santa Ana, a neighborhood of Cusco. She is 39 years old and married with 2 children. She works as a teacher and also operates a bookstore on Calle Teatro. She makes 2,625 soles per month as a teacher and sells about 7,500 soles per month in books, which is the equivalent of approximately $920 and $2,600. With this loan, she will invest in her bookstore.

All of the members of Virgen el Carmen appreciate and thank you for the loan and promise to pay the monthly payments on time.

Additional Information

Important Information

About Asociación Arariwa
Asociación Arariwa is a large non-governmental organization that started offering microcredit in 1994 to improve the quality of life, skills and equity of the population in the rural Cusco region of Peru. Arariwa serves the southern Andean provinces of Peru, and is distinguished by its efforts to reach the very poor, who often live in isolated rural areas. Arariwa fosters village banking, supports savings accounts, promotes access to education, and empowers women entrepreneurs (who make up 78% of its borrowers).

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.